Designed specifically for refurbishments, Hope Capital will lend not only at the beginning of a project in order to fund the purchase or refinance of a property, but will enable developers to draw down additional funds as required during the course of the development, worth up to 100% of the refurbishment costs.
Hope Capital will ‘forward fund’ a development providing a bridging loan of up to 75% completed value (GDV) of the units. Valid for a year, it can be drawn down as soon as practical completion of the development has taken place.
Hope Capital is the first bridging lender to offer a fixed fee loan. With no complicated interest calculations and no interest taken from the loan at the outset, the borrower can release more money from day one. This makes it ideal for investors who’ve bought a property below market value and are looking for a quick turnaround.